Reddit Tapping Goldman Sachs, Morgan Stanley for $15B IPO

Social media platform Reddit Inc., whose message boards became central to meme stock trading frenzy in 2021, is tapping Wall Street banks Goldman Sachs Group and Morgan Stanley for its initial public offering, Bloomberg News reported on Friday, citing people familiar with the matter.

Reddit is aiming for a valuation of over $15 billion at the time of its flotation, sources had previously told Reuters.

Reddit did not immediately respond to a Reuters request for comment.